Bengaluru, July, 2020: Due to the quick spread of highly-infectious Novel Corona virus Covid-19, panic-stricken people are feeling insecure and scrambling to take a health insurance cover. The steep rise in Covid cases has resulted the IRDAI to compel insurers to offer short-term Covid-specific health plans that will cover hospitalization expenses related to the treatment of COVID-19.
Keeping in view of the aforesaid, Canara Bank, a leading financial institution today proudly announces as a part of social commitment to indemnify the unprecedented expenses of Common Man, the launch of Corona Kavach policy by the following Insurance companies who have tied up with the bank.
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M/s New India Assurance Company ltd. (M/s NIA)
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M/s Bajaj Allianz General Insurance Co. ltd. (M/s BAGIC)
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HDFC ERGO Health Insurance Co. ltd (M/s HEHI)
With the objective of providing insurance cover for individuals for COVID-19 pandemic related to health expenses, the Bank in association with the tied-up insurance companies has launched the Corona Kavach Policies at a very competitive premium structure, starting with as low as INR. 300/- only.
The salient features of the policies are:
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It can be purchased on individual basis and family floater basis.
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The minimum sum insured is INR 5000 and maximum is INR 5 lakh.
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Minimum 24 hours hospitalization is required.
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Maximum period of insurance will be of 285 days or 9 and half month.
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Initial waiting period will be of 15 days from the date of issuance.
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No capping on room rent.
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Home care treatment as per insurer policy maximum up to 15 days.
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Treatment expenses for pre-hospitalization of 15 days and post- hospitalization of 30 days are covered.
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Ayush treatment is available upto 100 % of sum insured.
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Co-morbid conditions also covered.
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Optional hospital cash covered.
The Policy features of the products seen along with the premium structure make them to be the best in the peer group.
